Ridgeline Minerals Receives Drill Permit Approval for the Swift Gold Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2020) - Ridgeline Minerals Corp. (TSXV: RDG) ("Ridgeline" or the "Company") is pleased to announce that it has received final approval from the Bureau of Land Management ("BLM") on the Company's proposed Notice of Intent ("NOI") drilling and exploration permit for up 15 drill sites at the Swift Project in Lander County, Nevada. Ridgeline's 2,000 meter ("m") Phase I drill program is scheduled to begin in early September.
Chad Peters, Ridgeline's President & CEO commented, "For years Swift was a historically underappreciated project in the middle of the Battle Mountain - Eureka Trend, a prolific mining district and host to some of the largest Nevada gold discoveries in recent history including the Fourmile and Goldrush deposits. In 1999, a drill hole at Swift intersected 16.8m @ 0.72 g/t gold ("Au"), 0.50 g/t silver ("Ag") in Lower Plate carbonate host rocks and never received follow-up drilling. Twenty-one years later, our team is excited to go back and test this highly prospective target with our Phase I drill program"
Swift Project Highlights:
51 square/kilometer (km²) land package directly on-trend of the Nevada Gold Mines Cortez Mine Complex (Figure 1.0)
Historic core hole MCK-99-5A intersected 16.8m @ 0.72 g/t Au, 0.50 g/t Ag starting at 727m within the Lower Plate carbonate host rocks similar to multiple gold mines in the district
Highly prospective Cortez Structural Corridor extends across the Swift property and coincides with a pronounced gravity geophysics high as well as mapped dike swarms and elevated surface soils (gold-arsenic-antimony) anomalies at multiple targets (Figure 2.0)
Swift Project
Swift is a Carlin-Type gold exploration project located on the Cortez District of the Battle Mountain - Eureka Trend in Nevada with Ridgeline holding the option to earn a 100% interest in the project. The Property is immediately adjacent to the historic Elder Creek gold mine as well as directly on trend of The Pipeline, Cortez Hills and Goldrush deposits which comprise the Nevada Gold Mines owned and operated Cortez Complex. Throughout 2019 and the first half of 2020, Ridgeline completed property-wide gravity and airborne magnetics geophysics, surface soil sampling, and field mapping. The Company will target the highly prospective Fallen City and Goat targets in 2020 (Figure 3.0) with a 2,000m Phase I reverse-circulation drill program scheduled to begin in September 2020.
Figure 1.0: Plan view map showing location of the 51 km² Swift property on the prolific Battle Mountain Eureka Trend in Nevada
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7298/62184_b559f5f9144b4bdf_002full.jpg
Figure 2.0: Plan view map showing robust Arsenic (As) in soils anomalies at surface. As "plumes" are a common indicator of covered Carlin-Type gold systems in Nevada.
To view an enhanced version of Figure 2, please visit:
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Figure 3.0: Schematic X-Section A-A' highlighting the Fallen City and Goat targets. Phase I program to test projection of historic MCK-99-5A drill intercept into shallower Roberts Mtn. Formation host rocks in the Fallen City target area
To view an enhanced version of Figure 3, please visit:
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Technical information contained in this news release has been reviewed and approved by Michael T. Harp, P.Geo. the Company's Vice President, Exploration, who is Ridgeline's qualified person under National Instrument 43-101 responsible for technical matters of this release.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold explorer with a proven management team and a 116 km² exploration portfolio across three projects in the highly prospective Carlin and Battle Mountain - Eureka Trends in Nevada, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.
On behalf of the Board
"Chad Peters"
President & CEO
Further Information:
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
1-866-RDG-NVAU (734-6828) - toll free
info@ridgelineminerals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements
This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of Ridgeline Minerals Corporation ("Ridgeline", or the "Company"). Forward-looking statements include, but are not limited to, the advancement of mineral exploration, development and operating programs. The words "potential," "anticipate," "significant," "forecast," "believe," "estimate," "expect," "may," "project," "plan" and similar expressions are intended to be among the statements that identify forward-looking statements. Although Ridgeline believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions or other factors should change.
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